Buckhead Capital Management LLC Raises Stake in Novartis AG (NVS)

Buckhead Capital Management LLC increased its position in shares of Novartis AG (NYSE:NVS) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,185 shares of the company’s stock after acquiring an additional 2,858 shares during the quarter. Novartis comprises about 1.9% of Buckhead Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Buckhead Capital Management LLC’s holdings in Novartis were worth $6,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Palisade Asset Management LLC lifted its stake in Novartis by 2.7% in the third quarter. Palisade Asset Management LLC now owns 22,117 shares of the company’s stock valued at $1,906,000 after buying an additional 588 shares during the period. Ferguson Wellman Capital Management Inc. lifted its stake in Novartis by 9.2% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 7,000 shares of the company’s stock valued at $603,000 after buying an additional 590 shares during the period. LeJeune Puetz Investment Counsel LLC lifted its stake in Novartis by 11.3% in the third quarter. LeJeune Puetz Investment Counsel LLC now owns 5,925 shares of the company’s stock valued at $510,000 after buying an additional 600 shares during the period. Dempze Nancy E lifted its stake in Novartis by 2.4% in the third quarter. Dempze Nancy E now owns 25,560 shares of the company’s stock valued at $2,203,000 after buying an additional 608 shares during the period. Finally, ST Germain D J Co. Inc. lifted its stake in Novartis by 14.8% in the second quarter. ST Germain D J Co. Inc. now owns 4,765 shares of the company’s stock valued at $360,000 after buying an additional 615 shares during the period. 10.94% of the stock is currently owned by institutional investors and hedge funds.

NVS has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Novartis in a research note on Thursday, October 11th. Zacks Investment Research lowered Novartis from a “hold” rating to a “sell” rating in a research note on Wednesday, August 29th. BNP Paribas raised Novartis from an “underperform” rating to a “neutral” rating in a research note on Tuesday, September 11th. Wolfe Research initiated coverage on Novartis in a research note on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Finally, Bank of America raised Novartis from an “underperform” rating to a “buy” rating and set a $74.71 target price on the stock in a research note on Monday, September 10th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $84.86.

Shares of Novartis stock opened at $86.63 on Wednesday. Novartis AG has a 1 year low of $72.30 and a 1 year high of $94.19. The stock has a market capitalization of $197.66 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 1.89 and a beta of 0.83. The company has a quick ratio of 0.96, a current ratio of 1.20 and a debt-to-equity ratio of 0.29.

Novartis (NYSE:NVS) last announced its quarterly earnings results on Thursday, October 18th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.01. Novartis had a return on equity of 15.81% and a net margin of 25.98%. The company had revenue of $12.78 billion during the quarter, compared to the consensus estimate of $12.88 billion. During the same period in the prior year, the company earned $1.29 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, research analysts predict that Novartis AG will post 5.17 EPS for the current fiscal year.

Novartis Company Profile

Novartis AG researches, develops, manufactures, and markets a range of healthcare products worldwide. The company's Innovative Medicines segment offers patented prescription medicines to enhance health outcomes for patients and health-care providers. This segment also commercializes products in the areas of oncology and rare diseases, ophthalmology, immunology and dermatology, neuroscience, respiratory, cardio-metabolic, and established medicines.

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Institutional Ownership by Quarter for Novartis (NYSE:NVS)

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